In force · As amended up to 2026-08
87. Application against decision of resolution professional .—(1) The debtor or the creditor who is aggrieved by the action taken by the resolution professional under section 86 may, within ten days of such decision, make an application to the Adjudicating Authority challenging such action on any of the following grounds, namely:—
(a) that the resolution professional has not given an opportunity to the debtor or the creditor to make a representation; or
(b) that the resolution professional colluded with the other party in arriving at the decision; or
(c) that the resolution professional has not complied with the requirements of section 86.
(2) The Adjudicating Authority shall decide the application referred to in sub-section (1) within fourteen days of such application, and make an order as it deems fit.
(3) Where the application under sub-section (1) has been allowed by the Adjudicating Authority, it shall forward its order to the Board and the Board may take such action as may be required under Chapter VI of Part IV against the resolution professional.
88. General duties of debtor .—The debtor shall—
(a) make available to the resolution professional all information relating to his affairs, attend meetings and comply with the requests of the resolution professional in relation to the fresh start process.
(b) inform the resolution professional as soon as reasonably possible of—
(i) any material error or omission in relation to the information or document supplied to the resolution professional; or
(ii) any change in financial circumstances after the date of application, where such change has an impact on the fresh start process.
Source: India Code